Spread betting and Contracts for Difference claims
Spread betting and Contracts for Difference (CFD) online trading platforms may have misled traders about the financial risks and possible negative outcomes from commodity trades. Any trader who lost money trading CFDs or spread bets on commodities with IG.com - which is operated by IG Markets Ltd and IG Index Ltd - may have a claim.
What does the claim relate to?
CFD trading and spread betting platforms allow users to enter into speculative trades on a vast array of asset classes and indices. However, some of the trading platforms describe their products in a misleading way, meaning that traders have traded without knowledge of the risks and costs involved.
Beneath the surface of commodity CFDs and spread bets, lies a highly complex financial structure which exposes the trader to risks and costs that are not properly explained at the time of entering into the trades.
Our experienced team of commercial and financial litigators have significant expertise in dealing with financial claims related to complex structured products and can work with you to gauge if you are entitled to compensation.
What action can I take?
If you have traded commodities IG.com, please contact our team of experts to discuss whether you may be eligible to make a claim. You can do this by emailing us at spreadbettingcfd@hausfeld.com, or calling us on +44 20 7743 8280. Our phone lines are open between 9.30 am and 5.30 pm, Monday to Friday.
Should you be eligible, our team will need to obtain your trading data, usually in the form of a P&L statement, which will show the extent of losses suffered. This will be fully confidential.
How much compensation?
The exact level of compensation will depend on the volume and size of the trades you placed. When you get in touch with us, we will assess your trading data under complete confidentiality which will enable us to quantify the loss that you have suffered.
What will it cost to join?
Claimants are not required to pay any costs upfront or during the claim. If your claim is not successful, you will not have to pay any legal fees. In the event the claim is successful, we will charge a fee that is a percentage of the overall compensation offered.
Where will the claim be pursued?
We will initially pursue the claim through complaints and regulatory channels, exploring bringing a claim with the Financial Ombudsman Service. Should court proceedings be issued later, these will be brought in the High Court in London, England.
A leading team
Our experienced team of commercial and financial litigators have significant expertise in this area and can work with you to see if you are entitled to compensation. Hausfeld has worked on a variety of complex financial product cases and its lawyers are recognised as leaders in this field.
Hausfeld’s banking and finance practice attracts some of the most interesting and high-profile banking disputes around, tending to work for claimants/borrowers against financial institutions. The firm has a similar ethos to some of the smaller litigation boutiques, but within the fully functioning infrastructure and resourcing of a larger firm, which means that they are able to easily keep pace with their Big Law opponents in substantial cases.
Legal 500, 2022
The team on this claim is led by ‘brilliant partner’ Lucy Pert and Simon Bishop who is a ‘real asset to claimants when litigating against banks’, excellently supported by experienced associates Jonathan Amior and Samantha Hewitt.
Do you have more questions?
If you would like more information about this case, please email spreadbettingcfd@hausfeld.com or call us on +44 20 7743 8280. Our phone lines are open between 9.30 am and 5.30 pm, Monday to Friday.